Both the weather and real estate market in Calgary have been unseasonably hot this month.
Sales are on pace for the second best September on record and the highest sales total for the month since 2005.
Single family sales this month are tracking 15.7% higher than the average of the previous 10 years while condos sales are up 19.4%.
In the luxury segment, 28 SFH+condos have sold for $1M+ compared to 11 during the same period last year.
No surprise what overall home prices are doing when you combine a 21.49% sales increase y/y with -23.49% fewer listings: average price is up 9.69% while the median is up 8.61%.
Single family home average prices MTD are up 11.24% y/y to $508,610 and the median price is up 8.43% to $450,000. If these prices keep up for the remainder of the month, they will easily set a new September peak price.
I was curious and removed all 26 SFH luxury sales from the MTD calculation and discovered it would still result in record September prices: average price would be $471,589 and the median $442,250.